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The Latest Breaking News from International Monetary Fund

Carbon pricing would raise trillions needed to tackle climate crisis, says IMF

Traditionally unpopular carbon taxes could be achieved with regulatory compliance, IMF head tells Cop 28

The Guardian - UK

Argentina Will Not Join BRICS Under Milei, As Libertarian Prepares To Take Office

Argentina's President-elect is expected to withdraw Argentina from a planned expansion of the non-western economic alliance.

International Business Times

32 of Tom Cruise's greatest movie moments

The undisputed action legend boasts an incredible decades-spanning career

Total Film

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Did Paris Die In Dead Reckoning? See Mission: Impossible's Pom Klementieff In Action On The Set Of 8

Mission: Impossible 8 is on the way, and it looks like we’ll be seeing more of Pom Klementieff’s Paris following her debut in Dead Reckoning.

Cinemablend

Climate finance takes spotlight at COP28

Money pledges were in the spotlight at COP28 in Dubai on Monday as delegates turned their focus to the yawning gap in how much climate finance is needed and what's on tap, particularly for developing countries that need funds each year just to adapt to the warming world.

France 24

IMF To Revise Regional Outlook Over Israel-Hamas Conflict

The IMF announced Friday that it will revise its economic outlook for the Middle East and North Africa region due to the ongoing Israel-Hamas conflict.

International Business Times

Bank of England Warns of Potential Market Correction Amidst Economic Uncertainties

The House of Lords Economic Affairs Committee released a report that critiques the Bank of England's scope of operation amidst the current cost of living crisis.

International Business Times UK

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Sri Lanka says it struck a deal with creditors on debt restructuring to clear way for IMF funds

Sri Lanka says it has reached an agreement in principle with a group of creditors including India and Japan on debt restructuring

The Independent UK

Climate funding is in short supply. So some want to rework the financial system

Efforts to boost climate financing have moved beyond national pledges. Now the focus is on overhauling organizations like the World Bank and providing countries debt relief.

WEKU

Milei Heads To US As Next Argentine Leader

Argentina's president-elect Javier Milei was traveling Sunday to the United States to meet with US and international officials over two days.

International Business Times

Are These 3 China Stocks Buying Opportunity?

China's economy is staged for significant growth, buoyed by robust GDP growth, elevated forecasts, and proactive government measures to spur recovery. Amid this, could Chinese stocks New Oriental Education & Technology (EDU), JD.com (JD) and FinVolution (FINV) make ideal buys? Let's find out.

StockNews.com

James Webb Space Telescope sees major star factory near the Milky Way's black hole (image)

The JWST has imaged an intense region of star-formation near the black hole at the center of the Milky Way, making findings that could be key to understanding the earliest galaxies.

Space

Does Javier Milei’s dollarisation plan for Argentina make any economic sense?

President-elect’s idea is a gamble that is likely to crash an economy paying the price for mistakes of his predecessor

The Guardian - UK

The right is babbling about tax cuts while Britain burns. Pay no heed, Jeremy Hunt

Investment, investment, investment must be the chancellor’s mantra. Instead, he is being urged to give away billions to those least in need

The Guardian - UK

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The Hindu

State of the economy — temper the euphoria

If official spokespersons enlarged the frame of economic assessment, a few stark facts come into focus

Al Jazeera

Pakistan and IMF reach deal for releasing $700m from $3bn bailout package

The much-awaited deal with the global lender is meant to save the cash-strapped country from default.

The Conversation

How governments use IMF bailouts to hurt political opponents – new research

Sri Lanka received a bailout from the International Monetary Fund (IMF) in March amid soaring inflation, debt and a sovereign default.

The Independent UK

A fragile global economy is at stake as US and China seek to cool tensions at APEC summit

The United States and China are the two global economic heavyweights

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Barchart

Stocks Under Pressure After Fed Chair Powell's Comments

What you need to know… The S&P 500 Index ($SPX ) (SPY ) today is down -0.61%, the Dow Jones Industrials Index ($DOWI ) (DIA ) is down -0.57%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) is down -0.63%. This afternoon, Fed Chair Powell spoke at the IMF’s...

The Hindu

Acknowledge India’s economic successes too

The Indian economy has grown at an impressive rate in the post-COVID-19 years, and the tagline, ‘fastest-growing major economy,’ calls for some elaboration

Investors Business Daily

Stock Market Drops As 10-Year Yield Suddenly Jumps; More Trouble For Tesla Stock

A bigger headline could surface after 2 p.m. ET today, when Powell speaks on monetary policy at an International Monetary Fund conference.

The Independent UK

International Monetary Fund warns Europe against prematurely declaring victory over inflation

The International Monetary Fund says the European Central Bank and other policymakers across Europe need to keep interest rates at current elevated levels until they’re sure inflation is under control despite sluggish growth

Foreign Policy

What Ecuador’s New President Needs from Washington—And Fast

The country’s youngest-ever leader has less than 18 months to govern before the next election.

The Conversation

Politics with Michelle Grattan: Economist Chris Richardson on a likely interest rate rise and the fall in living standards

The International Monetary Fund (IMF) released a report this week calling on Australia to raise interest rates again, adding to the speculation the Reserve Bank will increase the cash rate on Tuesday.

The Guardian - AU

Afternoon Update: more interest rate rises likely; Victorian prison officers put spit hood on child; and WeWork to file for bankruptcy

The Reserve Bank looks increasingly likely to lift the cash rate as the IMF found inflation remained ‘sticky’

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